About the Society

Arkansas Society of CPAs (ARCPA) is Arkansas's premier professional home for CPAs and accounting professionals, serving the profession with integrity.

With over 105 years of service to the accounting profession, the mission of ARCPA is to promote and engage members for growth and success through advocacy, education, networking, and mentorship.

Latest News

U.S. Department of Labor (Department) Announces Final Rule: Restoring and Extending Overtime Protections

On April 23, 2024, the U.S. Department of Labor (Department) announced a final rule, Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees, which will take effect on July 1, 2024.

Posted on April 25, 2024

Federal Court in Alabama Holds Corporate Transparency Act Unconstitutional

A federal district court in Alabama held that the Corporate Transparency Act (CTA), P.L. 116-283, which requires the reporting of beneficial ownership information (BOI) by businesses, is unconstitutional. The district court granted the plaintiffs' motion for summary judgment Friday in the case of National Small Business United v. Yellen, No. 5:22-cv-1448-LCB (N.D. Ala. 3/1/24). One plaintiff, the National Small Business Association, has over 65,000 members. While the legislation may have "sensible and praiseworthy ends," the court stated in its opinion, the government's arguments that Congress has "the power to regulate millions of entities and their stakeholders the moment they obtain a formal corporate status" from a state "are not supported by precedent." The act "exceeds the Constitution's limits on the legislative branch and lacks a sufficient nexus to any numerated power to be a necessary or proper means of achieving Congress' policy goals," the opinion said.

Posted on March 5, 2024